HDFC Banking and PSU Debt Fund vs Nippon India Floating Interest Rates Fund
Direct Plan, Growth option · Data as on 30-10-2026
HDFC Banking and PSU Debt Fund is a Banking & PSU fund and Nippon India Floating Interest Rates Fund is a Floater fund. In the 3 years to 30-10-2026, HDFC Banking and PSU Debt Fund (Direct) returned 6.8% a year and Nippon India Floating Interest Rates Fund (Direct) returned 7.2% a year. HDFC Banking and PSU Debt Fund charges 0.35% a year and Nippon India Floating Interest Rates Fund 0.35% (Direct plans). Their portfolios overlap 13.8%: they hold 18 of the same securities.
HDFC Banking and PSU Debt Fund
Banking & PSU
- 3 year return
- 6.8%
- Expense ratio
- 0.35%
- NAV
- ₹25.35
Nippon India Floating Interest Rates Fund
Floater
- 3 year return
- 7.2%
- Expense ratio
- 0.35%
- NAV
- ₹50.91
Which is better, HDFC Banking and PSU Debt or Nippon India Floating Interest Rates? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Nippon India Floating Interest Rates returned more over 5 years: 6.5% a year against 6.1%.
- Nippon India Floating Interest Rates returned more over 3 years: 7.2% a year against 6.8%.
- Nippon India Floating Interest Rates swung less over 3 years: a standard deviation of 0.9% a year against 1.1%.
- Nippon India Floating Interest Rates fell less in its worst fall since 26-03-2014: −2.6% against −3.1%.
- Nippon India Floating Interest Rates is the larger fund: ₹7,461 Cr against ₹5,055 Cr.
- Their portfolios overlap 13.8%: 18 of the same holdings.
Past returns do not promise future returns. This page is information, not investment advice.
Key facts
From each fund's scheme summary document and AMFI
| Fact | HDFC Banking and PSU Debt Fund | Nippon India Floating Interest Rates Fund |
|---|---|---|
| Fund house | HDFC Mutual Fund | Nippon India Mutual Fund |
| Category | Banking & PSU | Floater |
| AUM | ₹5,055 Cr (30-09-2026) | ₹7,461 Cr (30-09-2026) |
| NAV | ₹25.35 (Direct) | ₹50.91 (Direct) |
| Expense ratio (Direct) | 0.35% | 0.35% |
| Expense ratio (Regular) | 0.68% | 0.65% |
| Riskometer | Moderate | Low to Moderate |
| Benchmark | NIFTY Banking & PSU Debt Index A-II | NIFTY Short Duration Debt Index A-II |
| Launch date | 26-03-2014 | 27-08-2004 |
| Minimum investment | ₹100 | ₹5,000 |
| Lock in | None | None |
| Fund managers | Anil Bamboli, Gopal Agrawal | Vikash Agarwal |
| Exit load | NIL | Nil |
HDFC Banking and PSU Debt vs Nippon India Floating Interest Rates: Returns Comparison
Returns as on 30-10-2026. Up to one year they are absolute returns. Longer periods are a rate per year.
| Fund | 1M | 3M | 6M | 1Y | 3Y | 5Y | 10Y |
|---|---|---|---|---|---|---|---|
| HDFC Banking and PSU Debt Fund (Direct) | −0.44% | −0.41% | +2.03% | +3.44% | +6.75% | +6.09% | +6.99% |
| Nippon India Floating Interest Rates Fund (Direct) | −0.13% | +0.25% | +2.46% | +4.41% | +7.20% | +6.51% | +7.13% |
| Banking & PSU average | −0.21% | +0.14% | +2.36% | +4.04% | +6.88% | +6.22% | +6.95% |
| Floater average | −0.01% | +0.56% | +2.76% | +5.43% | +7.47% | +6.73% | +7.16% |
Category average: the average of the 19 Banking & PSU funds and the 12 Floater funds, same plan type.
HDFC Banking and PSU Debt vs Nippon India Floating Interest Rates: Year-wise Returns
| Year | HDFC Banking and PSU DebtHDFC Banking and PSU Debt | Nippon India Floating Interest RatesNippon India Floating Interest Rates |
|---|---|---|
| 2026to date | +2.72% | +3.65% |
| 2025 | +7.87% | +8.24% |
| 2024 | +8.27% | +8.54% |
| 2023 | +7.28% | +7.50% |
| 2022 | +3.72% | +4.11% |
| 2021 | +4.13% | +4.08% |
HDFC Banking and PSU Debt vs Nippon India Floating Interest Rates: Rolling Returns
Every holding period of both funds
Rolling returns
Every 3-year holding period, 2,323 of them, one for each trading day from 27-03-2017 to 30-10-2026: the yearly return (CAGR) of each, plotted on the day it ended. One lucky or unlucky start day cannot flatter or hide a fund.
HDFC Banking and PSU Debt Fund (Direct)
Nippon India Floating Interest Rates Fund (Direct)
to
Jan 2018Aug 2016
to
Aug 2019Apr 2018
to
Apr 2021Nov 2019
to
Nov 2022Jul 2021
to
Jul 2024Jan 2023
to
Jan 2026
How the periods spread
| Fund | Below 0% | 0-5% | 5-10% | 10-15% | 15-20% | 20-25% | Above 25% | Mean | Median | Lowest | Highest |
|---|---|---|---|---|---|---|---|---|---|---|---|
| HDFC Banking and PSU Debt | 0.0 | 0.7 | 99.3 | 0.0 | 0.0 | 0.0 | 0.0 | 7.7% | 7.9% | 4.9% | 9.9% |
| Nippon India Floating Interest Rates | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 7.6% | 7.6% | 5.1% | 9.4% |
The table shows the % of periods in each return band; a darker cell holds more of them. Lumpsum: the yearly rate (CAGR) from a period's first NAV to its last. SIP: the XIRR of the monthly instalments. Every fund is measured over the days all of them have, from 26-03-2014. Past returns do not promise future returns.
HDFC Banking and PSU Debt vs Nippon India Floating Interest Rates: SIP and Lumpsum Returns
What the same monthly or one-time investment would be worth in each fund today, from their own NAV history
Growth of an investment
₹10,000 on the first trading day of every month, from 26-03-2014 to 30-10-2026: 152 instalments, ₹15,20,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| HDFC Banking and PSU DebtHDFC Banking and PSU Debt Fund (Direct) | ₹15,20,000 | ₹24,14,726 | ₹8,94,726 | 7.0% |
| Nippon India Floating Interest RatesNippon India Floating Interest Rates Fund (Direct) | ₹15,20,000 | ₹24,38,517 | ₹9,18,517 | 7.2% |
HDFC Banking and PSU DebtHDFC Banking and PSU Debt Fund (Direct)
Nippon India Floating Interest RatesNippon India Floating Interest Rates Fund (Direct)
Amount invested
From each plan's published NAV (Growth option), over the same days. Return a year: XIRR for a SIP, CAGR for a lumpsum, shown for a year or more. It does not include exit load, stamp duty or tax. Past returns do not promise future returns.
HDFC Banking and PSU Debt vs Nippon India Floating Interest Rates: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | HDFC Banking and PSU Debt Fund (Direct) | Nippon India Floating Interest Rates Fund (Direct) |
|---|---|---|
| Return (CAGR) | +3.44% | +4.41% |
| Standard deviation | 1.43% | 1.11% |
| Sharpe ratio | -1.26 | -0.75 |
| Sortino ratio | -1.68 | -1.05 |
| Maximum drawdown | −1.0% (23-10-2026) | −0.5% (21-05-2026) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 30-10-2025 to 30-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls. Beta and alpha compare each fund with its own benchmark's TRI.
| Measure | HDFC Banking and PSU Debt Fund (Direct) | Nippon India Floating Interest Rates Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.75% | +7.20% |
| Standard deviation | 1.13% | 0.88% |
| Sharpe ratio | 0.64 | 1.34 |
| Sortino ratio | 0.92 | 2.07 |
| Maximum drawdown | −1.0% (23-10-2026) | −0.5% (21-05-2026) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 30-10-2023 to 30-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls. Beta and alpha compare each fund with its own benchmark's TRI.
| Measure | HDFC Banking and PSU Debt Fund (Direct) | Nippon India Floating Interest Rates Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.09% | +6.51% |
| Standard deviation | 1.04% | 0.80% |
| Sharpe ratio | 0.28 | 0.88 |
| Sortino ratio | 0.38 | 1.30 |
| Maximum drawdown | −1.0% (23-10-2026) | −0.6% (13-05-2022) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 29-10-2021 to 30-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls. Beta and alpha compare each fund with its own benchmark's TRI.
| Measure | HDFC Banking and PSU Debt Fund (Direct) | Nippon India Floating Interest Rates Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.66% | +7.75% |
| Standard deviation | 1.55% | 1.28% |
| Sharpe ratio | 1.18 | 1.33 |
| Sortino ratio | 1.91 | 2.10 |
| Maximum drawdown | −3.1% (24-03-2020) | −2.6% (24-03-2020) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 26-03-2014 to 30-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls. Beta and alpha compare each fund with its own benchmark's TRI.
Drawdowns
How far below its previous high each one was on every day: the falls an investor had to sit through. 0% means it was at a new high.
HDFC Banking and PSU Debt Fund (Direct)
Nippon India Floating Interest Rates Fund (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| HDFC Banking and PSU Debt Fund (Direct) | −3.1% | 06-03-2020 | 24-03-2020 | 20-04-2020 | 27 days | −0.9% |
| Nippon India Floating Interest Rates Fund (Direct) | −2.6% | 06-03-2020 | 24-03-2020 | 17-04-2020 | 24 days | −0.3% |
From daily values since 26-03-2014, the first day every fund has.
Rolling standard deviation
Whether the swings have grown or calmed over time: the standard deviation of daily changes over every 1-year window, scaled to a year, plotted on the window's last day. Higher means a bumpier ride.
HDFC Banking and PSU Debt Fund (Direct)
Nippon India Floating Interest Rates Fund (Direct)
Whether the swings have grown or calmed over time: the standard deviation of daily changes over every 3-year window, scaled to a year, plotted on the window's last day. Higher means a bumpier ride.
HDFC Banking and PSU Debt Fund (Direct)
Nippon India Floating Interest Rates Fund (Direct)
Whether the swings have grown or calmed over time: the standard deviation of daily changes over every 5-year window, scaled to a year, plotted on the window's last day. Higher means a bumpier ride.
HDFC Banking and PSU Debt Fund (Direct)
Nippon India Floating Interest Rates Fund (Direct)
HDFC Banking and PSU Debt vs Nippon India Floating Interest Rates: Portfolio Overlap
From each fund's latest monthly portfolio: HDFC Banking and PSU Debt Fund, September 2026; Nippon India Floating Interest Rates Fund, September 2026
Holdings in common
- Overlap
- 13.8%
- Held by both
- 18
- Only in HDFC Banking and PSU Debt
- 84
- Only in Nippon India Floating Interest Rates
- 86
| Security | % of HDFC Banking and PSU Debt | % of Nippon India Floating Interest Rates |
|---|---|---|
| Indian Railways Finance Corp. Ltd. | 2.96% | 3.34% |
| Shivshakti Securitisation Trust (Originator - Sikka Ports & Terminals Limited) | 1.42% | 1.34% |
| Union Bank of India | 1.94% | 1.31% |
| REC Limited. | 1.51% | 1.03% |
| Pipeline Infrastructure Pvt. Ltd. | 0.99% | 3.41% |
| Siddhivinayak Securitisation Trust (Originator - Sikka Ports & Terminals Limited) | 0.95% | 1.60% |
| National Bank for Agri & Rural Dev. | 1.18% | 0.67% |
| Small Industries Development Bank | 0.97% | 0.65% |
| Pipeline Infrastructure Pvt. Ltd. | 0.50% | 0.59% |
| Indian Railways Finance Corp. Ltd. | 0.50% | 0.51% |
| National Bank for Agri & Rural Dev. | 0.49% | 2.40% |
| National Bank for Agri & Rural Dev. | 0.49% | 1.00% |
| Small Industries Development Bank | 0.49% | 0.93% |
| Small Industries Development Bank | 0.39% | 0.66% |
| REC Limited. | 1.11% | 0.34% |
| Bajaj Housing Finance Ltd. | 1.97% | 0.33% |
| Corporate Debt Market Development Fund | 0.36% | 0.33% |
| National Bank for Agri & Rural Dev. | 2.47% | 0.07% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 13.8% means 13.8% of each fund's money sits in positions the other also holds. Matched by ISIN. Cash and hedged positions are left out.
Largest holdings only in HDFC Banking and PSU Debt Fund
| Security | % of fund |
|---|---|
| Indian Railways Finance Corp. Ltd. | 5.41% |
| Bajaj Housing Finance Ltd. | 2.97% |
| REC Limited. | 2.96% |
| Housing and Urban Development Corporation Ltd. | 2.52% |
| Power Finance Corporation Ltd. | 2.44% |
Largest holdings only in Nippon India Floating Interest Rates Fund
| Security | % of fund |
|---|---|
| Mahindra & Mahindra Financial Services Limited | 2.68% |
| HDFC Bank Limited | 2.28% |
| 8.54% REC Limited | 2.20% |
| 7.4% Summit Digitel Infrastructure Limited | 2.13% |
| 8.15% JIO Credit Limited | 1.99% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | HDFC Banking and PSU Debt | Nippon India Floating Interest Rates |
|---|---|---|
| Equity | 0.0% | 0.0% |
| Debt | 95.2% | 91.1% |
| Cash and others | 4.8% | 8.9% |
HDFC Banking and PSU Debt vs Nippon India Floating Interest Rates: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | HDFC Banking and PSU Debt Fund | Nippon India Floating Interest Rates Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.35% | 0.35% |
| Base expense ratio (Direct) | 0.30% | 0.30% |
| Total expense ratio (Regular) | 0.68% | 0.65% |
| Base expense ratio (Regular) | 0.58% | 0.55% |
The expense ratio comes out of the fund's assets every day, so every return on this page is already after it. Base expense ratio: the fund house's own fee. The total adds brokerage, transaction costs, and levies with GST.
More comparisons
Each fund against the others of its category
Compare HDFC Banking and PSU Debt with
Compare Nippon India Floating Interest Rates with
- Nippon India Floating Interest Rates vs Axis Floating Interest Rates
- Nippon India Floating Interest Rates vs Franklin India Floating Interest Rates
- Nippon India Floating Interest Rates vs Bandhan Floating Interest Rates
- Nippon India Floating Interest Rates vs ICICI Prudential Floating Interest Rates
- Nippon India Floating Interest Rates vs Kotak Floating Interest Rates
HDFC Banking and PSU Debt Fund vs Nippon India Floating Interest Rates Fund: Frequently Asked Questions
What is the difference between HDFC Banking and PSU Debt Fund and Nippon India Floating Interest Rates Fund?
HDFC Banking and PSU Debt Fund is a Banking & PSU fund, Nippon India Floating Interest Rates Fund is a Floater fund, run by HDFC Mutual Fund and Nippon India Mutual Fund. Their portfolios overlap 13.8%. HDFC Banking and PSU Debt Fund charges 0.35% a year and Nippon India Floating Interest Rates Fund 0.35%.
Which has given higher returns, HDFC Banking and PSU Debt Fund or Nippon India Floating Interest Rates Fund?
Over 1 year: HDFC Banking and PSU Debt Fund +3.44%, Nippon India Floating Interest Rates Fund +4.41%. Over 3 years: HDFC Banking and PSU Debt Fund +6.75% a year, Nippon India Floating Interest Rates Fund +7.20% a year. Over 5 years: HDFC Banking and PSU Debt Fund +6.09% a year, Nippon India Floating Interest Rates Fund +6.51% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, HDFC Banking and PSU Debt Fund or Nippon India Floating Interest Rates Fund?
Both charge 0.35% a year.
How much do HDFC Banking and PSU Debt Fund and Nippon India Floating Interest Rates Fund overlap?
13.8%. They hold 18 of the same securities, the largest shared ones being Indian Railways Finance Corp. Ltd., Shivshakti Securitisation Trust (Originator - Sikka Ports & Terminals Limited), Union Bank of India. From each fund's latest monthly portfolio.
Which is riskier, HDFC Banking and PSU Debt Fund or Nippon India Floating Interest Rates Fund?
On SEBI's riskometer, HDFC Banking and PSU Debt Fund is rated Moderate and Nippon India Floating Interest Rates Fund Low to Moderate. Over 3 years, the standard deviation of daily returns was 1.13% and 0.88% a year.
Which is better for SIP, HDFC Banking and PSU Debt Fund or Nippon India Floating Interest Rates Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹7,15,495 in HDFC Banking and PSU Debt Fund (XIRR 6.2% a year) and ₹7,25,485 in Nippon India Floating Interest Rates Fund (XIRR 6.8% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both HDFC Banking and PSU Debt Fund and Nippon India Floating Interest Rates Fund?
Yes. 13.8% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages HDFC Banking and PSU Debt Fund and Nippon India Floating Interest Rates Fund?
HDFC Banking and PSU Debt Fund: Anil Bamboli, Gopal Agrawal. Nippon India Floating Interest Rates Fund: Vikash Agarwal.
Sources: NAV and expense ratio from AMFI. Holdings from each fund house's monthly portfolio statement. Fund facts from each scheme summary document.
This page is information, not investment advice. Mutual fund investments are subject to market risks; read all scheme related documents carefully. Past returns do not promise future returns. Figures come from AMFI, NSE, BSE and each fund house's own documents.